The Asian Infrastructure Investment Bank (AIIB) is expanding into a new partnership by becoming a technical partner of the Global Infrastructure Facility (GIF). By working together, AIIB and GIF will be able to leverage their respective resources to more effectively mobilize private capital to develop and finance sustainable infrastructure projects for resilient and inclusive economic growth. This is AIIB’s first accreditation with a global partnership facility, enabling the Bank to expand its resources to serve a broader range of members and further its role in private capital mobilization, in line with one of the thematic priorities set out in its Corporate Strategy.
Following the signing of the Financial Procedures Agreement with the World Bank (the GIF Trustee) last month, AIIB will have access to GIF funds, knowledge and expertise to support its clients in preparing bankable infrastructure projects and attracting much-needed private capital into the infrastructure sector. As a GIF technical partner, AIIB will enhance its collaboration with other multilateral development banks to support major infrastructure projects by bringing both its sectoral experience and expertise to the platform. AIIB will further contribute to the development of high-quality projects by providing technical assistance and capacity building.
“The development and financing needs for complex infrastructure projects far exceed the capacity of the public sector,” said Joachim von Amsberg, AIIB Vice President for Policy and Strategy. “As a technical partner of GIF, we will be able to bridge gaps in the development and preparation of high quality and sustainable infrastructure projects, leverage private financing, and build capacity. In addition, we will be able to create a conducive institutional and regulatory environment in our members’ economies for public-private partnership.”
With this accreditation, AIIB joins other multilateral development banks that are technical partners of GIF. These include the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, International Finance Corporation, Islamic Development Bank, Multilateral Investment Guarantee Agency, and the World Bank.
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 103 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
The Global Infrastructure Facility (GIF), a G20 initiative, is a global collaboration platform that integrates efforts to boost private investment in sustainable, quality infrastructure projects in developing countries and emerging markets. GIF enables collective action among a wide range of partners – including donors, development finance institutions, country governments, with inputs of private sector investors and financiers – to leverage resources and expertise and find solutions to build bankable pipelines of infrastructure projects that attract private financing.